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What is the total amount of interest

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Question - Carl and Carla, both age 35, are looking to renew their $500,000 mortgage and wonder what the monthly payments will be if it is amortized over 20 years at 4.0% (hint: as you learned in your math class, P/Y = 12 and C/Y = 2 on your financial calculator). What is the total amount of interest that they will pay over the life of the mortgage?

Reference no: EM133167298

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